Brief: Themaven Inc Says Co, Unit Of Authentic Brands Group Entered Licensing Agreement To Operate Sports Illustrated Media Business

Paradium.AI

17/06/2019 12:37

June 17 (Reuters) - Themaven Inc  MVEN.PK :
    * THEMAVEN INC -  ON JUNE 14, CO, UNIT OF AUTHENTIC BRANDS
GROUP
ENTERED LICENSING AGREEMENT TO OPERATE SPORTS ILLUSTRATED MEDIA
BUSINESS
    * THEMAVEN INC - ROSS LEVINSOHN HAS AGREED TO BECOME NEW CEO
OF
LICENSED BUSINESS
    * THEMAVEN INC -  INITIAL TERM OF LICENSING AGREEMENT SHALL
COMMENCE UPON TERMINATION OF MEREDITH LICENSE AGREEMENT,
CONTINUE THROUGH DEC 31, 2029
    * THEMAVEN INC -  SHALL PAY TO ABG ANNUAL ROYALTIES IN
RESPECT OF
EACH YEAR OF TERM BASED ON GROSS REVENUE WITH GUARANTEED MINIMUM
ANNUAL AMOUNTS
    * THEMAVEN INC - PREPAID ABG $45 MILLION AGAINST FUTURE
ROYALTIES
    * THEMAVEN - PURSUING DISCUSSIONS WITH MEREDITH FOR IT TO
CONTINUE
TO OPERATE SOME ASPECTS OF SPORTS ILLUSTRATED MEDIA  BUSINESS,
INCLUDING PRINT OPERATIONS
    * THEMAVEN INC - LICENSING AGREEMENT IS NOT CONTINGENT ON
REACHING
AN AGREEMENT WITH MEREDITH
    * THEMAVEN - TO HAVE EXCLUSIVE RIGHT IN U.S., CANADA,
MEXICO, UK,
IRELAND, AUSTRALIA, NEW ZEALAND TO OPERATE SPORTS ILLUSTRATED
MEDIA BUSINESS

Source text for Eikon:  ID: 
Further company coverage:  MVEN.PK 

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